Brokerages Set AxoGen, Inc. (NASDAQ:AXGN) PT at $46.50

AxoGen, Inc. (NASDAQ:AXGN) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.50.

Several analysts have issued reports on the company. Wells Fargo & Company increased their target price on AxoGen from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Canaccord Genuity Group upped their price objective on AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citizens Jmp raised their price objective on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th.

Insider Buying and Selling

In other news, Director Amy Mcbride Wendell sold 1,647 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total transaction of $70,162.20. Following the transaction, the director directly owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Johnson sold 11,050 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the sale, the director owned 11,050 shares of the company’s stock, valued at approximately $478,023. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,041 shares of company stock worth $1,268,792 in the last 90 days. 2.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC purchased a new position in AxoGen in the 4th quarter worth $5,043,000. SG Americas Securities LLC increased its holdings in shares of AxoGen by 459.9% in the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 53,786 shares during the period. Legato Capital Management LLC acquired a new position in shares of AxoGen in the fourth quarter valued at about $1,323,000. Assenagon Asset Management S.A. raised its stake in shares of AxoGen by 7.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,379,849 shares of the medical equipment provider’s stock worth $45,162,000 after purchasing an additional 90,777 shares during the last quarter. Finally, F&V Capital Management LLC purchased a new position in shares of AxoGen in the fourth quarter worth about $5,793,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Trading Up 2.0%

NASDAQ:AXGN opened at $43.62 on Friday. AxoGen has a one year low of $11.25 and a one year high of $46.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The firm has a market cap of $2.32 billion, a P/E ratio of -68.16 and a beta of 1.09. The firm has a 50-day simple moving average of $42.70 and a 200-day simple moving average of $36.54.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million for the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. Equities analysts anticipate that AxoGen will post -0.37 EPS for the current fiscal year.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.